Jefferies Removes 10% Bitcoin Allocation Citing Quantum Computing Threats
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 11h ago- Quantum Computing Threat: Christopher Wood, Jefferies' global head of equity strategy, announced in his 'Greed & Fear' newsletter that he has removed a 10% Bitcoin allocation from his model portfolio due to concerns that quantum computing could undermine Bitcoin's security within a few years, raising doubts about its viability as a long-term store of value.
- Portfolio Adjustment: Wood is replacing the 10% Bitcoin allocation with a 5% investment in physical gold and 5% in gold-mining stocks, reflecting a shift towards more traditional safe-haven assets as he expresses diminished confidence in Bitcoin's future value amidst potential risks.
- Intensified Community Debate: The Bitcoin community's discussion regarding quantum threats has intensified, with some developers arguing that the risk is overstated; however, Wood's stance raises fundamental questions about Bitcoin's role as a store of value, potentially impacting investor confidence.
- Historical Context: Wood has been an early institutional supporter of Bitcoin since December 2020, increasing his allocation to 10% in 2021, and this recent withdrawal marks a significant shift in his outlook on Bitcoin's future, which may influence decisions by other institutional investors.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
